April 25, 2014 Setting a Budget and Establishing Clear Goals for your Gala
Goals are critical to fundraising. If you don’t set goals, how do you know the event was successful? I recommend you create a budget of expenses and revenue. The expenses can consist of the venue, equipment rental, catering and bartenders, sound, lighting, band, printing, decorations, advertising, insurance, credit card fees, and liquor license. Your professional fundraising auctioneer will also be an expense but is often times offset by the buyers at the event. Your revenue can include ticket sales, sponsors, underwriters, silent and live auction, raffles, Special Appeal, and cash donations. Work with your auctioneer and set a goal for each revenue line item. Many times the historical information can guide you in determining these numbers. When setting these goals, ensure they are measurable, achievable and realistic.
Make every minute a revenue generating minute!
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